Common cents

The Frugal Gay cultivated financial freedom for himself and can help others do the same

RICH LOPEZ | Staff writer
rich@dallasvoice.com

When you think of influencers, they always seem to be jet-setting away to somewhere exotic or dining at all the hot spots, with stylized pics and stories splashed across social media.

Tom Brickman is none of that — although he could be if he wanted. Instead, as The Frugal Gay, his influence is less about showing off some faux fancy life and instead about keeping money in your pocket.

“I don’t say I’m an influencer, I’m just sharing my journey publicly now that I don’t have a 9-5 weighing me down,” he said.

Tom Brickman offers financial advice on his socials at The Frugal Gay

Brickman’s story has been told on Business Insider and USA Today. He’s shared his background with other social media entrepreneurs and on podcasts. A recent tweet went viral that led to him being interviewed by The Washington Post.

So, whatever he calls himself, Brickman is on a mission to not only share his own story, but also help others find their way to a better financial life.

“I do like telling my story. I feel like the more I share, that others in our community can build their own wealth,” Brickman said. “There are tons of ways to generate income. Part of why I share my experience is to encourage people.”

In very much a nutshell, his bio could read something like this: Brickman retired at the age of 39 by investing in real estate. Before his retirement, he worked as a movie theater manager, but with a tenacity and talent for saving his money and putting it to work, he had a million-dollar net worth by the age of 31.

His first project happened at the age of 21 when he just didn’t want to pay a lot of rent while going to college in Ohio. So ….

“I bought a duplex and had a mortgage that was $738,” he recalled with distinct accuracy. “I inherited a tenant, so I rented out the downstairs, and I was living there for $138 a month. Where else could I pay rent that low?”

This certainly sparked something in Brickman, but that wasn’t his plan — at all. He said he didn’t do any of this initially to escape a traditional job. He went to school for business administration and marketing.

“I did not envision becoming a landlord or a financial advocate,” he said. “Where I am now is not what I ever planned.”

His father was a police officer who owned a rental unit, and Brickman remembers going with him to pick up the rent or fix up the space. His grandmother is a Realtor. It was their influence that made Brickman what he is today. He felt that those two ingrained this mindset in him that he didn’t put to use ’til later.

He talked about later working at the movie theater and deciding that he wanted to own his own time. His goal was to not have to answer to a boss, and he set that goal about 10 years ago.

In 2022, he made that a reality.

Brickman’s plan was simple: Buy one property a year and flip it. Then move on to the next. Along the way, he learned how to navigate the real estate market, landlord issues and working with contractors.

“There were certainly bumps in the road, and every door [property] was a learning experience,” he said.

He transferred to Dallas with the movie theater chain, making more than $50K a year as a manager. He often says on his Instagram that he invested every bonus and raise into purchasing property. His first purchase was in Dallas back in 2009. Currently he has more than 20 doors under his watch that bring in profit.

“I just thought it was cool that renting a house is a way to generate income. This is gonna be my full time job now — to make money grow. I’ve always been more frugal, so that’s been a mindset as well,” he said.

Mixing frugality and financial ambition is Brickman’s magic power. He roots out deals or breaks where he can, such as tuition reimbursement for college classes or couponing for bargains, like a recent Tide purchase for under $2.

Not as much anymore, but he also does the side hustle thing reselling bargain store finds online for a profit.

Brickman posted online recently that he was challenging himself to a no-spend June — outside of necessary spending, of course. Plus, there’s that whole buying cheap or ugly homes, restoring them and turning them into profit.

Usually he wears a baseball cap and comfortable clothes, so Brickman’s vibe doesn’t scream big money. And that’s his biggest asset.

“To me, frugal doesn’t mean cheap. I live well below my means. Being frugal is being thrifty or finding value where others don’t find value,” he explained.

One illustration he used when defining frugality was going to Sam’s to purchase gift cards for his and his husband’s guilty pleasure — Texas de Brazil — so that they ultimately spend less on a big dinner. “We do leave a good tip accordingly, though,” he assured.

As he’s gained experience, Brickman has begun offering others the benefit of that experience via his website, The Frugal Gay. There he consults with all kinds of clients, helping them find ways to invest their money even with lower resources. As of this interview, he is currently mentoring six clients.

Financial stability within the LGBTQ community is a topic that seems barely touched across media and socials. There are the uber-successful folks who may have nothing to worry about, but there are those who haven’t planned as well for the future or entertainers who don’t have the 9-to-5 gig with a salary and benefits. Many older queer people lived in the shadow of AIDS and perhaps didn’t feel the need to set up a financial future.

In an odd way, financial planning has a very heteronormative aspect to it as it speaks to the well-being of one spouse in the event the other dies or the future of children and property. That may contribute to a resistance in the queer community to any planning for the future. But the truth is, planning ahead for the well-being of a spouse or children and the dispensation of property are just as important to queer couples and families as they are to the straight world.

“That conversation needs to be had,” Brickman said. “I have friends who ‘don’t wanna work until they’re 80,’ but they haven’t taken the steps,” he said. “It’s common for our community where we don’t have dependents who take care of us in the future. As a community, financial literacy and planning are super important.”

Brickman and his husband also give back in their own ways to the community — albeit more back in Brickman’s hometown of Toledo.

One of his purchases in Ohio is currently a short term rental, but Brickman has plans to transition it into an LGBTQ hospice. The couple has also contributed to Equality Toledo, and they did some estate planning that included a map of which houses of theirs go to which charities.

Here in North Texas, one of Brickman’s tenants was with the nonprofit Arttitude, an LGBTQ organization that supports queer and allied artists.

Brickman has donated to Artitutde, and he said that their forever home will go toward an LGBTQ charity.

“I think being in this position and doing that for the community is important,” he said. █

Follow Brickman on his socials and site by visiting Linktr.ee/TheFrugalGay11